Latest Money Laundering Threats – Page 13
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NewsLandmark US AML and corporate transparency bill enacted into law
A landmark piece of legislation that will establish a register of beneficial owners and strengthen anti-money laundering has been enacted into law.
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AnalysisThe key FinCrime trends and topics to watch out for in 2021
2020 is a year we would all rather forget, with everybody hoping that in 2021 thoughts of social distancing, bubbles, mask-wearing and furloughing will gradually fade from public consciousness.
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NewsAUSTRAC has warned of high risks of money laundering through junket tour operations and has urged casinos to act.
The Australian watchdog has published a risk assessment of the junket tour operations (JTO) sector. Junket tour operators bring wealthy gamblers to casinos by offering promotions and other services, with these ‘high-rollers’ paying the JTO.
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NewsCrypto analytics firm CipherTrace files patents for technology to trace privacy coin Monero
Cryptocurrency risk intelligence and analytics firm CipherTrace has filed two patents for technology to trace transactions for privacy coin Monero (XMR).
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FeatureWe need to talk about the EU’s ambitious AML reform plan
The European Commission’s reforms for anti-money laundering, including a single rulebook and supervisor, have been enthusiastically backed across the continent and draft plans approved by finance ministers.
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BlogMore money laundering and more SARs – the potential impact of Germany’s new AML law
A proposed new law in Germany would have a drastic impact on the volumes of transactions punishable as money laundering. Compliance teams will need to be on the ball, explains Andrew Northage
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NewsLagarde hints digital Euro is likely but would take several years due to AML and privacy concerns
Christine Lagarde has said her “hunch” is that a digital Euro will be set up soon but would take up to four years to implement.
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NewsLatvian bank RIB fined €473k over “irregularities” and inadequate AML
Latvian bank Reģionālā Investīciju Banka (RIB) has been fined €473,076 over fund source detection “irregularities” and inadequate risk management.
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NewsSwiss bank Julius Baer agrees to hand over nearly $80m to settle FIFA corruption case
Julius Baer said it has reached an agreement in principle with the US Department of Justice to resolve an investigation into the bank’s role in the FIFA corruption scandal.
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NewsEU finance ministers call for GDPR clarity as they back greater info-sharing to tackle money laundering
EU finance ministers are calling for clarity on data protection rules as they seek to harmonise anti money laundering regulations across Europe.
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BlogGermany’s proposed AML law: what it would mean for compliance professionals
Germany’s draft anti-money laundering law would widen the definition of money laundering crimes. Oliver Förster explains how this would both ease and add to AML compliance workloads.
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NewsEuropean finance ministers agree plan for single rule book and centralised supervision of anti-money laundering
European finance ministers have agreed draft proposals to establish a single rule-book and centralised supervision of anti-money laundering and terrorist financing.
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BlogGermany’s proposed AML law: what it would mean for compliance professionals
Germany’s draft anti-money laundering law would widen the definition of money laundering crimes. Oliver Förster explains how this would both ease and add to AML compliance workloads
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ReportThe land of the free: combatting financial crime in the US
So we now know that we will have a new US President. FinCrime Report looks at the key issues for anti-money laundering regulation stateside ahead of the Joe Biden era.
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BlogGermany unveils tough new AML law in bid to boost prosecutions
The German government has adopted draft legislation aimed at boosting money laundering prosecutions.
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NewsUK Treasury Committee announces fresh inquiry into financial crime
An influential cross-party group of lawmakers in the UK has launched a follow-up enquiry into financial crime following the release of the FinCEN Files last month.
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NewsGermany unveils tough new AML law in bid to boost prosecutions
The German government has adopted draft legislation aimed at boosting money laundering prosecutions.
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BlogUnderstanding the components of illegal wildlife trafficking
High profits and the perceived low risk of being caught makes the illegal wildlife trade attractive to criminals. Paula Krulicki of ManchesterCF explains how anti-money laundering teams should investigate the problem.
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NewsFinCEN fines early Bitcoin mixer operator $60m
The Financial Crimes Enforcement Network (FinCEN) has fined the founder and operator of Helix and Coin Ninja $60m.
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Article20 arrested across Europe in ‘unprecedented’ international operation against laundering network
Law enforcement authorities from 16 different countries have disrupted the QQAAZZ money laundering network, carrying out 40 house searches and arresting 20 suspected members of the group.